project completion prior to disposition of certain property

project completion prior to disposition of certain property Sec. 508. (a) Section 106 of the Housing Act of 1949 is amended by adding at the end thereof the following new subsection: “(i) Upon a determination by the Secretary that (1) not more than 5 per centum of the total area of land acquired as part of an urban renewal project remains to be disposed of, (2) the local public agency does not expect to lie able, due to circumstances beyond its control, to dispose of such land in the near future, (3) all other project activities are completed, and (4) the local public agency has agreed to dispose 82 Stat. 523of or retain such land for uses in accordance with the urban renewal plan, the urban renewal project may be. deemed completed, and the net project cost may be computed and the capital grant paid.” (c) Section 110(f) of such Act is amended by inserting before the period at the end thereof the following: “or for subsequent disposition or retention as provided under section 106(i)”.